Sunday, April 18, 2021

tax avoidance

Malaysia ex-PM Najib Razak faces bankruptcy over $400 million tax bill

Malaysia’s former prime minister Najib Razak has been served with a bankruptcy notice for failing to pay more than $400 million in unpaid taxes, a move that the ex-premier described as an attempt to destroy his political career. Najib, who...

Luxembourg rejects tax haven label

Luxembourg on Monday denied claims made in international media publications that the nation is a massive tax haven for the world’s rich and famous despite European Union legislation to clamp down on it. A group of media outlets including France’s...

Zimbabwe accuses Swiss engineering firm ABB of avoiding $13.4 million in taxes

ABB, one of Switzerland’s most profitable companies, tried to avoid paying millions of dollars in taxes to Zimbabwe, according to the African country’s tax office in court filings and other documents obtained by the International Consortium of Investigative Journalists. The...

Dozens of U.S firms that received COVID-19 bailouts paid no taxes in 2019, used offshore tax havens

Last month Zagg Inc, a Utah-based company that makes mobile device accessories, received more than $9.4 million in cash from a U.S. government program that has provided emergency loans to millions of businesses hit by the coronavirus. The money was...

Japanese firm probed for paying bribes to avoid paying taxes

Vietnamese authorities are investigating Tenma Vietnam, a subsidiary of Japan's plastic product maker Tenma Corporation, for alleged bribing some 232,000 U.S. dollars to avoid tax arrears, Vietnam News Agency reported on Tuesday. Vietnamese Minister of Finance Dinh Tien Dung has...

Uganda court summons 3 UK law firms for enabling $1.1 billion tax avoidance scheme

The Commercial Court has summoned three United Kingdom-based law firms who were the masterminds of the deal in which Tullow Oil plc avoided paying taxes worth $1.1 billion (about Shs4.1 trillion) to the Ugandan national treasury following an agreement...

European Commission launched legal actions against Luxembourg over money laundering, tax avoidance

The European Commission launched legal actions on Thursday against Luxembourg over laws to prevent money laundering and tax avoidance, it said in a statement. New EU rules to step up scrutiny of financial assets controlled by politicians and companies' owners...

Accounting firm tax scam used homeless people as dummy directors, shut down amid probe

An accounting firm at the centre of a massive tax avoidance scheme which exploited homeless and drug-addicted people has had its registration cancelled in the wake of an ABC investigation. Last month the ABC revealed a group of Victorian accountants...

UK Lycamobile disputes allegations of tax avoidance in HMRC case

A mobile phone firm that has been a major Tory donor is embroiled in three disputes with the UK tax authorities over at least £60m in allegedly unpaid tax. Lycamobile donated £2.1m to the Conservatives between 2011 and 2016. The...

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Dallas Attorney Rayshun Jackson charged for laundering proceeds of drug trafficking

A Dallas lawyer has been charged with laundering money that he believed was the proceeds of a drug trafficking...
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